LONDON WOOL SALES

Timaru Herald, Volume CXLIII, Issue 20897, 29 November 1937, Page 10

LONDON WOOL SALES

LONDON SERIES ENDED IMPROVED DEMAND FOR BEST TYPES United Press Association—By Electric Telegraph —Copyrlgb t LONDON, November 26. The wool sales concluded with an offering of 9340 bales, of which 4494 were from New Zealand; and 7631 were sold. There was a fairly good selection with improved demand for best kinds. Throughout the series 73,400 bales were offered and 57,000 sold. The home trade bought 29,500 and the Continent 27,500. The tendency throughout was steady at a decline, but competition was keen. Compared with the closing of the previous series, prices were 15 to 25 per cent, lower. For New Zealand slipe, halfbred lambs, Canterbury realised top price with 14Jd. The average price was 12Id. About 31,000 bales of Australian, and 28,000 bales of New Zealand wool were held over for the next series. Merinos sold throughout at from 15 to 25 per cent, lower, Bradford topmaking styles 25 per cent, lower, cross and fine crossbreds opened at 20 per cent, lower, later easing a further 25 to 30 per cent. Medium grades similarly fell. Slipes were in large supply and gave way by 30 to 35 per cent. REACTIONS IN EUROPE TAX ON EXPORTS CRITICISED United Press Association—By Electric Telegraph—Copyright (Received November 28, 6.30 p.m.) PARIS, November 27. A delegation from the French wool interests strongly protested to the Government against the proposed tax of 8 per cent, on exports of certain woollen goods. RISE IN PRICES IN ITALY DIFFICULTIES OF FOREIGN EXCHANGE United Press Association—By Electric Telegraph—Copyright (Received November 28. 6.30 p.m.) ROME, November 27. The Italian Government has authorised heavy increases in the prices of woollen textiles, ranging from 60 per cent, on pure wool and from 35 to 65 per cent, in respect to yams. Retailers are allowed to make proportionate increases to enable their profits to be maintained at the rate fixed in September, 1936. Importers are compelled to pay the Government the exorbitant rate for foreign exchange needed to import wool from Australia.